E Fund Management Co. Ltd. Has $833,000 Position in Tapestry, Inc. (NYSE:TPR)

E Fund Management Co. Ltd. boosted its position in Tapestry, Inc. (NYSE:TPR) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,744 shares of the luxury accessories retailer’s stock after purchasing an additional 200 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Tapestry were worth $833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC increased its holdings in Tapestry by 78.0% in the 4th quarter. Venturi Wealth Management LLC now owns 575 shares of the luxury accessories retailer’s stock worth $38,000 after purchasing an additional 252 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Tapestry in the third quarter valued at about $47,000. Deseret Mutual Benefit Administrators raised its position in shares of Tapestry by 68.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,492 shares of the luxury accessories retailer’s stock worth $70,000 after acquiring an additional 605 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in shares of Tapestry by 159,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,592 shares of the luxury accessories retailer’s stock worth $75,000 after acquiring an additional 1,591 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Tapestry by 72.9% during the fourth quarter. UMB Bank n.a. now owns 1,176 shares of the luxury accessories retailer’s stock worth $77,000 after acquiring an additional 496 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Down 3.5 %

Shares of Tapestry stock opened at $75.00 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85. The stock has a 50 day moving average price of $76.04 and a two-hundred day moving average price of $59.29. The stock has a market capitalization of $15.53 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.58.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.30. Tapestry had a return on equity of 44.00% and a net margin of 11.74%. During the same period in the previous year, the firm earned $1.63 earnings per share. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be paid a $0.35 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.87%. Tapestry’s dividend payout ratio (DPR) is presently 40.58%.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 21,107 shares of Tapestry stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $84.00, for a total transaction of $1,772,988.00. Following the transaction, the chief executive officer now owns 176,985 shares of the company’s stock, valued at $14,866,740. The trade was a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David E. Howard sold 11,917 shares of Tapestry stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $88.00, for a total value of $1,048,696.00. Following the transaction, the general counsel now directly owns 38,609 shares in the company, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,537 shares of company stock valued at $5,730,589 over the last 90 days. Insiders own 1.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TPR shares. Evercore ISI raised their price objective on Tapestry from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Barclays raised their price objective on Tapestry from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Guggenheim raised their price objective on Tapestry from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Tapestry from $88.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Robert W. Baird raised their price objective on Tapestry from $93.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average price target of $78.53.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.